Vung Ang 1 Thermal Power Plant

The Vung Ang 1 Thermal Power Plant is a proposed $1.6 billion 1,200-megawatt coal-fired power station under construction in the central province of Ha Tinh. The plant is slated to be commissioned in July 2012. On April 22, 2011, Reuters reported that a consortium of five foreign banks and Vietnam's state oil and gas group Petrovietnam had signed credit contracts worth $904 million to fund the project. Lenders included HSBC, China Development Bank, Bank of Tokyo-Mitsubishi UFJ, Credit Suisse and Italy's Intesa SanPaolo.

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